Picture this…Captain Craig has invited you to spend a month sailing the Caribbean with all the lobster you can eat! Your captain has only one rule—“no telephone calls, no E-mail, no texts”. Will your properties run smoothly while you’re gone? Will your residents be well served in your absence? The information in this article, when put into practice, will reduce your stress, increase your business success, and give you the freedom (and vacation!) you so richly deserve.
Building a winning team: Trust each employee to do their job and be sure each team member feels they are a valuable part of your property management team. Set the example for positive interaction between members of your team at all times, even when ideas or performance must be corrected. Conversely, if you have current employees who are not performing well, consider whether they are a wise investment as your property management company is only as good as each individual’s contribution.
Tip From The Coach: Hire wisely when building your leasing and management team and never compromise your standards. Look for the three I’s: intelligence, initiative, and integrity when interviewing for each position, and only hire those who perfectly match [to learn more about pre-hire employee testing send an E-mail to ernest@powerhour.com] the profile of your property management company. When you find Superstar employees, reward them financially and make sure their pay is at market level or above. Lastly, take time to acknowledge each team member’s contribution, as the biggest loyalty builder is two simple words--thank you.
Working with your team: Know each team member’s job responsibilities and master them. This gives you a reserve employee and trainer (yourself), but has an added bonus. If you show your leasing staff and property supervisors you are willing to learn or have learned his/her job, you are communicating you believe their work has value. Every team member needs to know when they are emptying trash cans, making collection calls, or speaking with an unhappy resident, their work is worthwhile and significant.
Tip From The Coach: Establish a training schedule so each person on your team can learn to do at least two jobs, particularly with your computer software systems and for key resident services. For critical tasks, at least three people should know how to do each job. Once this training is finished, you will always have an on-site expert who can step in when needed.
Giving your best and encouraging the same: Pride in your property management company and its services always begins at the top and your leasing team and property supervisors will mirror your exact views and expectations. If you set an example of making the extra effort, pitching in when needed, caring about your team members, working as a unit to be the best in the property management business, and taking care of the bottom line, your property management team will follow suit.
Tip From The Coach: Wherever possible, give your employees a stake in the future. Try scheduling a short monthly meeting and ask your team to make suggestions on how to improve their leasing product/services, their resident services, their property efficiencies, and your bottom line. Give monetary rewards when employee ideas produce increases to your profits and give positive encouragement for the process. Lastly, have fun along the way…a good laugh soothes even the toughest of days. Captain Craig, says “ready to set sail?”
Want to hear more about this important topic or ask some additional questions? Send an E-mail to ernest@powerhour.com and The Coach will E-mail back to you a free invitation to be a participant on a PowerHour conference call. On this call we will discuss 25 appreciation themes your residents will love.
Ernest F. Oriente, a business coach since 1995 [30,500 hours], a property management industry professional since 1988--the author of SmartMatch Alliances--and the founder of PowerHour...[www.powerhourseo.com and www.pirmg.com ], has a passion for coaching his clients on executive leadership, hiring and motivating property management SuperStars, traditional and Internet SEO/SEM marketing, competitive sales strategies, and high leverage alliances for property management teams and their leaders. He provides private and group coaching for property management companies around North America, executive recruiting, investment banking, national utility bill auditing national real estate and apartment building insurance, SEO/SEM web strategies, national WiFi solutions, powerful tools for hiring property management SuperStars and building dynamic teams, employee policy manuals and social media strategic solutions. Ernest worked for Motorola, Primedia and is certified in the Xerox sales methodologies. Recent interviews and articles have appeared more than 7000 times in business and trade publications and in a wide variety of leading magazines and newspapers, including Smart Money, Inc., Business 2.0, The New York Times, Fast Company, The LA Times, Fortune, Business Week, Self Employed America and The Financial Times. Since 1995, Ernest has written 200+ articles for the property management industry and created 350+ property management forms, business and marketing checklists, sales letters and presentation tools. To subscribe to his free property management newsletter go to: www.powerhour.com. PowerHour® is based in Olympic-town…Park City, Utah, at 435-615-8486, by E-mail ernest@powerhour.com or visit their website: www.powerhour.com